With reference to the ‘Trans-Pacific Partnership’, consider the following statements: 1. It is an agreement among all the Pacific Rim countries except China and Russia. 2. It is a strategic alliance for the purpose of maritime security only. Which of the statements given above is/are correct?
Explanation
Statement 1 is Incorrect: The Trans-Pacific Partnership (TPP) did not include all Pacific Rim countries. While it was signed by 12 nations (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States), many other Pacific Rim countries such as South Korea, Indonesia, Colombia, Thailand, and the Philippines were not part of the agreement.
Statement 2 is Incorrect: The TPP was a comprehensive free trade agreement (FTA) aimed at lowering trade barriers, promoting economic integration, and establishing common standards for intellectual property, labor, and environmental protection. It was not a strategic alliance for maritime security.
Following the withdrawal of the United States in 2017, the remaining 11 members negotiated a new trade agreement known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).